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BUZZ-Home Bancorp gets 'overweight' rating as Piper Sandler assumes coverage

ReutersFeb 21, 2025 10:51 AM

Piper Sandler assumes coverage of community lender Home Bancorp HBCP.O with an "overweight" rating and $60 PT, a 23.2% upside to the stock's last close

Brokerage says Louisiana-based HBCP has been trading at a discount to its rivals over the past year, a gap it thinks should narrow given the bank's above-peer profitability and stable credit

Adds that the bank should show stable progress in 2025, and its expansion outside its home state should continue to pay dividends over the longer term

HBCP expanded into Houston with the 2022 acquisition of Texan Bank in a $66.5 million deal

One of three brokerages rate the stock "buy" and two "hold"; their median PT is $55, according to data compiled by LSEG

HBCP stock up 5.4% YTD

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